Natural Resource Partners L.P.

Do Revenues Turn Into Profits?

Yes. It kept 66 cents of every revenue dollar as net income in FY2025 and turned 81 cents into free cash flow.

Operating income, FY2025

70% of revenue

▼ −28% vs FY2024 ($199.2M, 86%)

Net income, FY2025

66% of revenue

▼ −26% vs FY2024 ($183.6M, 79%)

Free cash flow, FY2025

81% of revenue

▼ −33% vs FY2024 ($248.5M, 107%)

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

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